Our Journey from Debtdom to Freedom

hazeldreams

Quick update! 5 NSDs in a row done and dusted, but a cheeky lift to the train station from a friend and double choc cookies in a team meeting have thwarted my efforts to achieve all 7 daily goals so only 5/7 achieved today.

FriYAY tomorrow thank goodness!:j

hazeldreams

So we're off out for a family gathering tonight. I'll be driving and it's only for a couple of hours so hoping to keep spends down to just hubbys beer (under £20 fingers crossed)

We've very little planned this weekend so would love to go for two NSDs but often small unplanned spends occur particularly on a Saturday so we'll have to see how it goes.

Have also been re-evaluating our long term goals - I think we may need to reprioritise saving for the girls uni fund over paying off our mortgage. I've done some research and it looks like the average cost of tuition fees and living costs per child is approx £53k over a 3 year course. Whilst I fully expect them to work and support themselves as much as possible, we'll need to contribute and we can't clear the mortgage and build significant amounts of cash at the same time. Once the debt has gone we'll look to max out my sharesave at work and anything left over from disposable income will then go to clearing the mortgage. This will inevitably push out our mortgage free date of 2023 but it feels like the right thing for our family

hazeldreams

This weekend ended up being a very quiet one which is just as well given DD2 came down with a nasty bout of flu poor thing. She must feel really poorly as I'm not allowed to leave her side (I'm currently typing this in the dark while she doses next to me on the bed).

Managed an NSD today but didn't on Saturday unfortunately as we needed bits and bobs like greaseproof paper, calpol etc.. Up to 13 NSDs now - won't quite hit 16 target, but I'm more than happy if we get to 15/16.

Enjoyed a lovely brisket of beef today with all the trimmings and a homemade sponge for pud, all frugally made (with the exception of the beef) with stuff already in the cupboards/freezer. Also made some cranberry, oatmeal, white choc cookies too, again all from ingredients we already have. Great for the bank balance, not so great for the waistline! I absolutely have to get back on the healthy stuff this week to hit a 2lb loss this month!

Just 2 days of the month left and then I can sweep another load off the debt mountain. We've already been paid but I just find it so much easier with YNAB to do everything from the 1st of the month onwards. Providing we manage 2 more NSDs before 1st Feb, we'll have spent £575 less this month than last even though we've spent £200 booking 3 small weekend breaks which is unusual! I can't believe for one minute that'll be the 15 NSDs on their own, but they must have played an enormous part. We've never achieved so many NSDs in a month before and this is the lowest spend in a month we've had since last March, so that's no coincidence. We're going all out for 16/16 next month, especially as it hasn't felt particularly painful!

Tough week ahead at work with enormous workloads, so I've tried to think ahead and make a little extra with our meals this weekend, reducing the need to make lunches and put extra pressure on ourselves. It all helps doesn't it?

Really, really enjoying Mrs Frugalwoods daily emails. I love her perspective on frugality and find some of it really challenges my way of thinking. Her style of writing isn't my favourite but anything which can help embed our new ways into habit and a complete lifestyle change gets my vote!:T

hazeldreams

So January ended on a real high, 15/16 NSDs and our lowest spending month since we started accurately monitoring it.

February hasn't got off to a great start however with me forgetting my train pass this morning and having to spend an unnecessary £3.60 on a ticket!!!! Grrrrr:mad: My littlest lady is still poorly too so feeling very guilty leaving her with the in laws today and then staying away overnight tonight due to work.

On the plus side, I've switched over a big payment to the debt mountain this morning. We're not going to achieve £2700 again this month due to us having 3 birthdays in close succession and with half term. We're on track to clear 44% of our monthly income off the debt though so I'm pleased with that. We e also cleared the bit if Cc1 that had a 0% ending so thankfully all debt still at 0%.

I've let the daily goals slip a little in the last week though so it's time to pull my socks up and get back to building those habits; providing I do then 16/16 NSDs should be easy. First NSD will likely be Friday of this week though as will have to buy lunch tomorrow given I can't bring hotel leftovers! Or can I...?! Maybe if there's an all you can eat buffet breakfast?! :rotfl:

Off to update sig with Feb goals ....:)

hazeldreams

Torturously long 2 days with work, most of it spent travelling on trains to and from the big smoke (I'm on the last leg of the journey home now, can't wait to see my babies and enjoy a long soak in the bath!)

Not much to report this end-yesterday and today were spendy days not really planned per se but not unplanned either given they were a natural consequence of staying away from home.

Back to normal tomorrow, 1st NSD planned and really want to achieve 7/7 daily goals (it's been a while since I got a full house).

Off now to read some diaries and catch up on Mrs Frugalwoods daily email

hazeldreams

Don't you just LOVE lazy Sunday mornings! I'm not long up and have spent the last half hour cruising diaries, updating YNAB and generally enjoying some quality me time while the girls potter about.


I have to confess that February has been abysmal in terms of NSDs and hitting my seven daily goals. It's a short term blip, I'm confident of that but it's rather annoying. Friday was supposed to be an NSD but I'd forgotten I needed to buy a birthday gift for my daughters school friend so I couldn't count that.


Off to visit friends today, but at their house so today will DEFINATELY be the first Feb NSD!


On another note, I've started to investigate remortgaging as I'm nervous that interest rates my rise in the short term. I've been cautious about trying given our level of unsecured debt but in the end figured that the worst that can happen is that we get a "no" which is marginally better than never knowing if we could've secured a better rate. I'm pleased to say that after an hour on the phone, we passed the affordability assessment and we're offered an agreement in principle. We've still got to go through the next stage with a mortgage advisor and I'm still conscious that once they've scrutinised bank statements and spending there might be a different decision, but we'll see how it goes, I'm pleased it wasn't a straight reject.


I also made the time to finally write to all of my previous unsecured debt lenders in respect of PPI. I used Martin's tool on this site to do it and it was really quick and easy. I'm sure I did have PPI on a number of cards and loans in the past but the problem I have is that this would've been between 1996 and 2009. I don't have any paperwork as I always shred it when I close an account and even though I've checked my credit file, none of the cards and loans I know I had PPI on show on it as it was more than 6 years ago. I've always thought it wasn't worth the effort for this reason, but at least I've tried now and if anything comes back (small chance as I don't think the banks have to keep records for longer than 6 years), it'll be a bonus, which of course will be chucked straight at the debt mountain.


Best get a shimmy on and get in the shower, even though it's going to be tough to peel myself off the sofa!


Happy Sunday!

hazeldreams

So we're finally off the NSD starting block hurrah! Only 23 days left of Feb and with 3 birthdays in the family this month achieving 16 NSDs will be doable but extremely challenging!

I realised over the weekend that I hadn't reflected on my monthly goals for Jan. At the beginning of the year we listed our daily, weekly, monthly, yearly and long term goals as follows;

Daily

1. I had a NSD today/I stuck to my budget today
2. I limited my portions and chose healthy options today
3. I didn't drink alcohol today
4. I paused before reacting to kids
5. OH and I talked for 20 minutes today
6. I exercised for 30 minutes today
7. I completed 30 minutes work related reading today

Weekly

1. I completed 4 NSDs this week
2. I visited Mom and Dad this week

Monthly

1. I stayed on budget/I completed 16 NSDs this month
2. I cleared £2700 of debt this month
3. I lost 2lbs in weight this month

Yearly

1. I cleared £40k of debt in 2017
2. I cleared all unsecured debt by 1/2/2018
3. I lost a stone/I maintained 1 stone loss

Long term

1. We cleared our mortgage by 1/2/23
2. We cleared our buy to let mortgage by 1/2/27
3. We retired at 57
4. We built a uni fund for our DD's
5. We built a house deposit fund for our DD's

So the good news is the for the month of Jan;

- I lost 2lbs
- we cleared £2000 debt
- we achieved 15 NSDs

Clearly though I need to rethink some of the goals as £2700 cleared per month just isn't going to happen

So here's our new revised list with tweaks to debt repayment figures in monthly and yearly goals and priority changes to long term goals as promoted by reading mrs Frugalwoods (they'll be no change to daily and weekly goals);

Monthly
1. I stayed on budget/I completed 16 NSDs
2. I cleared £2000 this month of debt
3. I lost 2lbs this month

Yearly
1. I cleared £34k off debt this year
2. I lost a stone/I maintained 1 stone loss

Long term
1. We built a uni fund for our DD's
2. We cleared our mortgage by 1/2/23
3. We cleared our buy to let mortgage by 1/2/27
4. We retired at 57
5. We built a house deposit fund for our DD's

brizzledfw

All great stuff..I love reading about your goals.
The dilemma of supporting kids in whatever they want to do as young adults and paying down mortgages is one that resonates with us too. Main thing is to get out of debt and then we have options. Trying to have some 'big' conversations with them over next fortnight so the Brizzle household all have a plan we can stick to
x

hazeldreams

Aww thanks brizzle! You're absolutely right it's such a juggle balancing family priorities with getting out of debt - it's a balance we struggle with most days! Good luck with the tough conversations, hope it goes well!

Had a great day yesterday, achieved NSD no 2 and hit all 7 daily goals. Feeling very focussed on repeating that again today!

Really looking forward to a long weekend for half term the week after next. We're having a short weekend break courtesy of those famous newspaper holidays - it's cost next to nothing but regardless of the quality of the holiday we'll enjoy quality family time so should be worth it! I've decided to do a big cook up this weekend for the break so we can maximise the frugality of the holiday and time out and about whilst simultaneously reducing temptation to eat out and waste money! We're there Fri-Mon. We'll need to get straight on the road when school finishes on 17/2 so we'll no doubt stop (it's a 4 hour drive away) and eat on the way down but this will be the only meal out. I'm thinking I'll cook a whole chicken then take some for a stir fry on the Saturday night and the rest for chicken sandwiches for lunch everyday. I'll also look to do some meatballs in tomato sauce that we could heat up and put with some spaghetti on the Sunday, then we'll finish off the chicken for lunch on the Monday before heading home. Spends should therefore be super minimal.

Train almost pulling into station ...ugh not enjoying work at the mo, workload unbearable and all very much thankless tasks! Anyway my chin's up! Tuesday here I come!

hazeldreams

Managed 4 NSDs in a row so quite chuffed with that. Need to buy few bits from chemist so won't manage it again today but should be fine tomorrow.

Also managed 3 days in a row of 7/7 daily goals, so feeling more in control.

On the workfront a new opportunity has arisen. It's a grade higher than my current role (even though as is often the case, it's almost a perfect job match to my current role!) and comes with a decent pay rise, car allowance, increased annual leave as well extra benefits such as inc pension and phi. It's still local to home too. Seriously considering applying given work has been particularly trying recently it feels like the right time for a change. If I were successful it may also mean our aspirational DFD is more likely to be achieved which would be absolutely awesome.

Really looking forward to recharging my batteries until the weekend and I'm on serious countdown to half term break...just 7 working days to get through .....:j